Renovated Double Income
8221-23 Apple Street New Orleans, LA 70118
8221-23 Apple Street, New Orleans, LA, 70118
$280,000
For Sale
$280,000
Renovated duplex with two identical three-bedroom layouts, private back yards, and separate water meters for each unit.
Property Size1,748 SF
Price / SF$160.18
Days on Market53
Property Features for 8221-23 Apple Street
General Information
- Standard status
- Active
- Size
- 1,748 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1930
Listing agency
Grady Harper, Inc.
(504) 289-4152
Listed by
Laine Harper · License #000036102
(504) 289-4152
Source
Compass
Added: May 31 Updated: Jul 22 at 12:55AM Checked: Jul 22 at 9:32AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Grady Harper, Inc.
Investment Insights
Based on property information with market context.
Renovated duplex offering two residential units with identical, functional floor plans. Each unit features an open-concept living and kitchen area with a breakfast bar, three independent bedrooms (not shotgun-style) accessed off a hallway beyond the kitchen, and a full bathroom with a utility closet and in-unit washer and dryer. Both units include large private back yards; Unit 8223 also has a spacious side yard and off-street parking. Unit 8221 offers cherry kitchen cabinets with granite countertops, while Unit 8223 features white cabinetry with lighter granite countertops.
The property is located in the Carrollton area near South Carrollton Avenue and South Claiborne Avenue, with close access to streetcar and bus lines. Nearby conveniences listed include Robert’s Fresh Market, Walgreens, and Marsalis Harmony Park.
Each unit is separately metered for water, though the owner currently pays water as well as pest control and yard maintenance. The property has an active termite contract and is covered by transferable leased solar panels intended to help reduce occupants’ utility costs. Current leasing information is provided for both units.
The property is located in the Carrollton area near South Carrollton Avenue and South Claiborne Avenue, with close access to streetcar and bus lines. Nearby conveniences listed include Robert’s Fresh Market, Walgreens, and Marsalis Harmony Park.
Each unit is separately metered for water, though the owner currently pays water as well as pest control and yard maintenance. The property has an active termite contract and is covered by transferable leased solar panels intended to help reduce occupants’ utility costs. Current leasing information is provided for both units.
Key Highlights
- Renovated 1‑story duplex built in 1930 with central air and central heating
- Each unit has 3 independent bedrooms (not shotgun‑style) plus 1 full bathroom, with laundry in each unit
- Open‑concept living and kitchen in both units with breakfast bar and identical floor plans
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.6k | $19.80 |
| − Vacancy | −$3.0k | −$1.71 |
| EGI | $31.6k | $18.09 |
| − OpEx | −$9.5k | −$5.43 |
| NOI | $22.1k | $12.66 |
1,748 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$316.2K
$276.7K – $368.9K
NOI $22,134 @ 7.0% cap · market cap 7.90%
Second Best
Apartment 5plus
$290.6K
$254.3K – $339.1K
NOI $20,345 @ 7.0% cap · market cap 7.27%
Theoretical Best
Office A
$444.3K
$388.8K – $518.3K
NOI $31,100 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Renovated duplex with two identical three-bedroom layouts, private back yards, and separate water meters for each unit.
Where is this duplex located?
The property is located at 8221-23 Apple Street New Orleans, LA.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Renovated 1‑story duplex built in 1930 with central air and central heating; Each unit has 3 independent bedrooms (not shotgun‑style) plus 1 full bathroom, with laundry in each unit; Open‑concept living and kitchen in both units with breakfast bar and identical floor plans
